Second place was a tie and $37,500 was each awarded to AOMSfor its fiber optic sensing technology and monitoring platform for Industrial IoT and to RazorSecure for its cybersecurity software using advanced machine-based learning.

The Nokia Open Innovation Challenge winners were announced on Thursday, December 6, 2018 at the global headquarters of Nokia Bell Labs in Murray Hill, NJ.

Nokia Bell Labs in partnership with NGP Capital, administered the competition with the goal of connecting the world through innovations that shape the future of human collaboration, communication, connection and control.

Nokia Bell Labs in partnership with NGP Capital, administered the competition with the goal of connecting the world through innovations that shape the future of human collaboration, communication, connection and control.

In addition to the prize money, the winners will also be given access to Nokia Bell Labs research and development resources, as well as opportunities to grow their businesses through joint partnerships with Nokia.

The focus of this year's competition was industrial automation and the industrial Internet of Things (IIoT).

The focus of this year's competition was industrial automation and the industrial Internet of Things (IIoT).

The entrants went through two assessment rounds, with the six finalist companies invited to pitch and demonstrate their ideas to an international selection jury.

"NGP Capital was delighted to co-sponsor this highly innovative event focused on the industrial internet of things. We received over 300 quality submissions from entrepreneurs around the world. Kudos to the 6 finalists, and the winner Spark Microsystems!", said Upal Basu, Partner at NGP Capital and one of the judges at the competition.

"NGP Capital was delighted to co-sponsor this highly innovative event focused on the industrial internet of things."

This year's winners will join a growing list of companies with access to Nokia's resources to help grow their businesses. Last year's winners included smart clothing developer Continuum Technologies as well as Snaptivity, which enhances live sport fan experiences through AI-powered robotic cameras.